Citable filing context
BRO's research view summarizes recent SEC filing context, starting with management_change from Aug 10, 2026.
| Filed | Item | Context |
|---|---|---|
| Aug 10, 2026 | management_change | Executive Vice President P. Barrett Brown resigned, entering a transition agreement through July 2027. |
| Jul 27, 2026 | earnings | Brown & Brown reported Q2 2026 total revenues of $1.7 billion, an increase of 30.4% year-over-year. |
| Jun 5, 2026 | debt_offering | Brown & Brown entered into a credit agreement increasing its revolving facility to $1.25B and adding $500M in term loans. |
| Mar 17, 2022 | Guidance: revenue | not reported to not reported |
| Jul 27, 2026 | mda_quarterly | Brown & Brown (BRO) reported strong financial growth for the second quarter of 2026, with total revenues rising 30.4% to $1.68 billion. This performance was driven by a 32.4% increase in commissions and fees, bolstered by recent acquisitions and an 88.9% surge in profit-sharing contingent commissions. Despite this top-line growth, the company experienced a slight organic revenue decline of 0.7%, reflecting a challenging environment for renewal business due to slowing rate increases and rate decreases in certain coverage lines, particularly catastrophe property. The company’s profitability remains robust, with income before income taxes increasing 23.2% to $383 million. This was supported by synergies from the 2025 acquisition of Accession and a $40 million credit from the revaluation of acquisition earn-out payables. However, interest expenses nearly doubled to $100 million, reflecting higher debt levels incurred to finance the Accession transaction. BRO maintains a solid liquidity position, with $918 million in cash and significant remaining capacity under its $1.25 billion revolving credit facility. The company continues its aggressive capital allocation strategy, repurchasing $500 million in common stock during the first half of 2026. Key risks include ongoing litigation-related impacts, potential regulatory changes, and the integration of acquired businesses. |
| Apr 27, 2026 | mda_quarterly | Brown & Brown reported first-quarter 2026 total revenues of $1.9 billion, a 35.4% increase driven primarily by the acquisition of Accession. Net income attributable to the company rose 28.7% to $426 million. While total commissions and fees grew 35.7%, organic revenue growth remained flat, though organic revenue including contingents grew 2.2%. The Retail segment achieved 1.0% organic growth, which was moderated by slowing rate increases and a revised revenue model in specialty pharmacy consulting. The Specialty Distribution segment saw a 2.0% organic revenue decline, impacted by falling catastrophe property rates, though this was offset by a 131% surge in profit-sharing contingent commissions. Adjusted EBITDAC increased 36.6% to $731 million, with an adjusted margin of 38.5%. Interest expenses rose 115.2% to $99 million due to debt issued to fund the Accession transaction, bringing total debt to $7.8 billion. The company completed a $250 million accelerated share repurchase and paid a $0.165 per share dividend. Key operational risks include the integration of Accession and a litigation-related impact involving teammate defections to a start-up US broker. |
| Feb 12, 2026 | business | Brown & Brown, Inc. is a diversified insurance intermediary operating primarily as an agent or broker, though it maintains ancillary operations that assume underwriting risk through captives and the Wright National Flood Insurance Company. Following a 2025 reorganization, the company reports through two segments: Retail and Specialty Distribution. The Retail segment provides property, casualty, and employee benefits insurance, alongside non-insurance warranty services for automotive dealers. The Specialty Distribution segment, formed by consolidating programs and wholesale brokerage, acts as a managing general underwriter and wholesale broker for complex, hard-to-place risks, utilizing global markets including Lloyd’s. The company operates extensively across the United States and internationally, with significant revenue generated from its 712 total locations. Competition is intense, driven by large global firms, direct-to-consumer insurance carriers, and emerging technology-based platforms. Key risks include the regulatory complexity of licensing, the potential for market disruption by digital competitors, and the reliance on maintaining strong carrier relationships. Brown & Brown emphasizes a decentralized, meritocratic culture, supported by a high level of employee stock ownership. The company’s growth strategy relies heavily on acquisitions, having added nearly 5,800 teammates through 43 acquisitions in 2025 alone. |
Source: SEC EDGAR filing text and events; period Aug 10, 2026; filed Aug 10, 2026.
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